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Why Japanese Beauty Giants Are Buying Up Global Brands

M&A is gathering pace in Japan’s beauty industry as local conglomerates look to diversify their portfolios beyond Asia and target high-growth categories overseas.
Model Hikari Mori and comedian Yuriyan Retriever attend the Shiseido Brand Ambassador announcement press conference on January 11, 2023 in Tokyo, Japan.
Model Hikari Mori and comedian Yuriyan Retriever attend Shiseido's brand ambassador announcement event in January 2023 in Tokyo, Japan. (Getty Images)
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BoF PROFESSIONAL

Though sun care is a mature industry in Japan, the category hasn’t performed all too well in recent years. According to Mintel, the country’s market for sunscreens, self-tanners and after sun products decreased in value by 12.7 percent in 2022, compared to a surge in other markets, such as the UK, which registered 20.4 percent growth.

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Further Reading

Bringing Shiseido Back to Life

Japanese beauty giant Shiseido is facing competition from younger, buzzier J-Beauty rivals and trying to modernise its approach.

About the author
Zoe Suen

Zoe Suen is a contributing writer at The Business of Fashion. Suen is a freelance writer, editor, and consultant who writes about luxury fashion and beauty.

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